|
Report Date : |
23.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHANTI RECYCLE STAINLESS STEEL LIMITED |
|
|
|
|
Registered
Office : |
Room No. 29, 1st
Floor, Amar Wadi Back Side, 52, 1st Khattar Galli, C P Tank, Mumbai
– 400004, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
13.04.2005 |
|
|
|
|
Com. Reg. No.: |
11-152635 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.925
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51420MH2005PLC152635 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS49324C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICS8896H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Iron and Steel Scrap. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The
management of the company has not filed its financial after the year 2010
with the Government Department. Mr. Ramesh, Director confirmed that they are in the business of
trading of iron and steel and confirmed that due to recession the company did
not carried out any business during 2010. However, the status of the company appears to be active in the ROC.
Payment terms are unknown in absence of latest financial. The company can be considered for business dealings on a safe and
secured trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Ramesh Kumar Mundra |
|
Designation : |
Managing director |
|
Contact No.: |
91-9755550339 |
|
Date : |
23.04.2013 |
LOCATIONS
|
Registered Office : |
Room No. 29, 1st
Floor, Amar Wadi Back Side, 52, 1st Khattar Galli, C P Tank,
Mumbai – 400004, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9755550339 (Mr. Ramesh Kumar Mundra) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
B 8, Lower Ground Floor, Panchavati Apartment, 9/2/1, V.M. Road,
Indore, Madhya Pradesh, India |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Ramesh Kumar Mundra |
|
Designation : |
Managing director |
|
Address : |
Flat No. 102,
Plot No. 100, Shree Nagar Main, Indore, Madhya Pradesh, India |
|
Date of Birth/Age : |
10.04.1962 |
|
Date of Appointment : |
13.04.2005 |
|
DIN No.: |
00444423 |
|
|
|
|
Name : |
Mr. Shanti Lal Bhansali |
|
Designation : |
Director |
|
Address : |
B-5, Kadri
Manzil, Near Sheetal Cinema, LBS Marg, Kurla (West), Mumbai-400070,
Maharashtra, India |
|
Date of Birth/Age : |
07.06.1973 |
|
Date of Appointment : |
13.04.2005 |
|
DIN No.: |
01018238 |
|
|
|
|
Name : |
Mr. Manoj Kumar Bhansali |
|
Designation : |
Director |
|
Address : |
B-5, Kadri
Manzil, Plot No. 288, Near Sheetal Cinema, LBS Marg, Kurla (West),
Mumbai-400070, Maharashtra, India |
|
Date of Birth/Age : |
10.09.1972 |
|
Date of Appointment : |
29.09.2007 |
|
DIN No.: |
02212524 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Ramesh Kumar Mundra |
|
72500 |
|
Shanti Lal Bhansali |
|
11500 |
|
Santosh Mundra |
|
2500 |
|
Vimla Devi Bhansali |
|
4500 |
|
Rajkumar Bhansali |
|
500 |
|
Manoj Bhansali |
|
500 |
|
Gautam Bhansali |
|
500 |
|
|
|
|
|
Total |
|
92500 |
AS ON 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Iron and Steel Scrap. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Ř Bank of Baroda Ř Central Bank of
India Ř IDBI Bank
Limited Ř Union Bank of
India Ř State Bank of
India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Swapnil Jain and Company Chartered Accountants |
|
Address : |
215, Chetak Center, 12/2, R.N.T. Marg, Indore – 452001, Madhya
Pradesh, India |
|
Tel. No.: |
91-731-2529725 |
|
Income-tax
PAN of auditor or auditor's firm : |
ABXPJ4607L |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
92,500 |
Equity Shares |
Rs. 10/- each |
Rs. 0.925
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.925 |
0.925 |
0.925 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.259 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
0.925 |
0.925 |
1.184 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.013 |
|
|
|
|
|
|
|
|
TOTAL |
0.925 |
0.925 |
1.197 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.052 |
0.068 |
0.076 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.080 |
0.061 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
3.645 |
|
|
Sundry Debtors |
0.014
|
2.073 |
4.492 |
|
|
Cash & Bank Balances |
0.866
|
0.875 |
1.614 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.005
|
0.574 |
0.084 |
|
Total
Current Assets |
0.885
|
3.522 |
9.835 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.002
|
2.587 |
7.759 |
|
|
Other Current Liabilities |
0.242
|
0.246 |
0.922 |
|
|
Provisions |
0.000
|
0.003 |
0.046 |
|
Total
Current Liabilities |
0.244
|
2.836 |
8.727 |
|
|
Net Current Assets |
0.641
|
0.686 |
1.108 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.152 |
0.110 |
0.013 |
|
|
|
|
|
|
|
|
TOTAL |
0.925 |
0.925 |
1.197 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.000 |
5.718 |
46.597 |
|
|
|
Other Income |
0.001 |
0.006 |
0.698 |
|
|
|
TOTAL |
0.001 |
5.724 |
47.295 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
0.000 |
5.645 |
46.089 |
|
|
|
Direct Expenses |
0.000 |
0.020 |
0.124 |
|
|
|
Administration and other charges |
0.053 |
0.450 |
0.842 |
|
|
|
Selling & Distribution Expenses |
0.000 |
0.026 |
0.079 |
|
|
|
TOTAL |
0.053 |
6.141 |
47.134 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(0.052) |
(0.417) |
0.161 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.016 |
0.016 |
0.013 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(0.068) |
(0.433) |
0.148 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(0.019) |
(0.071) |
0.050 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(0.049) |
(0.362) |
0.098 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(0.53) |
(3.91) |
1.06 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(4900.00)
|
(6.32)
|
0.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.00)
|
(7.57)
|
0.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.26)
|
(12.06)
|
1.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.07)
|
(0.47)
|
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.63
|
1.24 |
1.13 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming financial
year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
BUSINESS REVIEW:
During the period,
the Company was able to earn Total Income of Rs 0.001 Million and has to bear
loss of Rs. 0.049 Million. The Authorised Share Capital of the Company is
Rs.1.000 Million and Paid Up Capital of Rs. 0.925 Million.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 54.17 |
|
|
1 |
Rs. 82.45 |
|
Euro |
1 |
Rs. 70.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
11 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.